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Market Declines

The global stock markets have declined significantly during the fourth quarter (see below) and just ended a particularly poor week. This week began with additional declines as we write this just prior to the close today.

Stock markets started the year with an accelerated continuation of the one way staircase higher that they enjoyed in 2017 (see separate “February 2018 Monthly Market Update”). This period was marked by numerous records being broken for the longest period without even a 3% drop. Then, things changed rather quickly. Stocks fell significantly on Friday and followed on